Time Inc. (TIME) Sank To A 5-Month Low After Deciding Not To Pursue Sale

Time Inc. (TIME) announced Friday morning that its Board has determined that the company will continue to pursue its strategic plan. Time said, "Over the past several months, there has been considerable speculation and news coverage regarding interest by various parties in acquiring Time Inc. While Time Inc. had not initiated a process, the Board of Directors, consistent with its duties, evaluated a number of expressions of interest with the assistance of external advisors."

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